IIFL estimates the company’s net profit to plunge to Rs. 2,478 crore, at a rate of 37.% yoy; however, the same is likely to rise 92.7% qoq.
Oil & Natural Gas Corporation (ONGC) one of the largest oil & gas companies in India, will announce its financial results on May 26 for the fourth ended March 31, 2016.
IIFL estimates the company’s net profit to plunge to Rs. 2,478 crore, at a rate of 37% yoy; however, the same is likely to rise 92.7% qoq.
As per IIFL’s forecast, the company’s net revenue for Q4 FY16 is expected to tumble to Rs. 15,591 crore, at a rate of 28% yoy and 15.7% qoq.
Operating profit margin is estimated to be at 42.4%, with a yoy fall of 505 bps.
Our preview coverage universe of 374 companies, representing ~75% of India’s equity market cap is expected to report 4.2% yoy drop in net profit in Q4 FY16. On a qoq basis, profits will rise by 17% on account of low base of preceding two quarters, which had witnessed sequential PAT declines.
Other key quarterly results on May 26 include Banco Products India, Deepak Fertilizers & Petrochemicals Corporation, EIH Ltd, Finolex Cables, Hathway Cable, HT Media, Ingersoll‐Rand India, Mphasis, Natco, ONGC, Rashtriya Chemicals & Fertilizers, Sagar Cement, Salzer Electronics, Shipping Corporation Of India Ltd, Shree Cement, Sterlite Technologies, Subros Ltd, Tata Chemicals, Trent, Union Bank of India, and VA Tech Wabag.
Stock view:
IIFL estimates the company’s net profit to plunge to Rs. 2,478 crore, at a rate of 37% yoy; however, the same is likely to rise 92.7% qoq.
As per IIFL’s forecast, the company’s net revenue for Q4 FY16 is expected to tumble to Rs. 15,591 crore, at a rate of 28% yoy and 15.7% qoq.
Operating profit margin is estimated to be at 42.4%, with a yoy fall of 505 bps.
Our preview coverage universe of 374 companies, representing ~75% of India’s equity market cap is expected to report 4.2% yoy drop in net profit in Q4 FY16. On a qoq basis, profits will rise by 17% on account of low base of preceding two quarters, which had witnessed sequential PAT declines.
Other key quarterly results on May 26 include Banco Products India, Deepak Fertilizers & Petrochemicals Corporation, EIH Ltd, Finolex Cables, Hathway Cable, HT Media, Ingersoll‐Rand India, Mphasis, Natco, ONGC, Rashtriya Chemicals & Fertilizers, Sagar Cement, Salzer Electronics, Shipping Corporation Of India Ltd, Shree Cement, Sterlite Technologies, Subros Ltd, Tata Chemicals, Trent, Union Bank of India, and VA Tech Wabag.
Stock view:
Oil & Natural Gas Corpn Ltd is currently trading at Rs. 213.45, up by Rs. 3.25 or 1.55% from its previous closing of Rs. 210.2 on the BSE.
The scrip opened at Rs. 211.7 and has touched a high and low of Rs. 214.2 and Rs. 210.85 respectively. So far 1608740(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 179836.4 crore.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 337.15 on 28-May-2015 and a 52 week low of Rs. 188 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 214.5 and Rs. 204.8 respectively.
The promoters holding in the company stood at 68.93 % while Institutions and Non-Institutions held 17.45 % and 13.62 % respectively.
The stock is currently trading above its 200 DMA.
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